Masdar to Add 2 GW Solar & Wind, 500 MWh Storage in Uzbekistan

UAE’s flagship clean energy firm Masdar has inked a joint development agreement (JDA) with Uzbekistan’s Ministry of Energy (MoE) and the Ministry of Investments, Industry and Trade (MIIT) under which it will additionally develop more than 2-GW of solar and wind projects along with  500 MWh of battery energy storage in the country.

The projects will come up at multiple sites across Uzbekistan. Dr Sultan Al Jaber, Chairman of Masdar, said, “The UAE is fully committed to supporting countries to decarbonize.  Uzbekistan is a key strategic partner, and we continue to work together to deliver renewable energy projects that power homes and businesses, while crucially cutting emissions.”

Mohamed Jameel Al Ramahi, CEO of Masdar, added, “Our agreement to develop 2 GW of solar and expand into 500 MWh of battery storage, marks an exciting new chapter in Masdar and Uzbekistan’s shared journey.”

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Uzbekistan wants to achieve 25 per cent of its energy mix from renewables by 2030 and the country abundant in wind and sunshine, is a key strategic destination for Masdar.

Uzbekistan itself is one of the largest producers of natural gas. Uzbekistan plans to achieve 7 GW of solar and 5 GW of wind capacity by the end of the decade.

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Masdar has been active in Uzbekistan since 2019, with the 100 MW Nur Navoi Solar Project, which is the nation’s first successfully financed IPP solar project that has been operational since 2021.

The footprint of Masdar is growing quite fast in Uzbekistan. It is building the largest wind farm of Central Asia called Zarafshan wind project with a capacity of 500 MW.

Last month, Masdar reached financial close on three solar projects in Jizzakh, Samarkand and Sherabad, which have a combined capacity of around 900 MW – making it the largest solar development program in Central Asia. Once fully operational, the projects will generate enough electricity to power over one million homes, while displacing around one million tonnes of carbon.

For the greenfield solar PV power plants, the Asian Infrastructure Investment Bank (AIIB) will finance loans in the aggregate amount of $83.6 million as part of a $396.4 million debt financing to Masdar.